| Majority of Mexico States Approve Telecom Bill, Gov't Official Says Crayton Harrison - Bloomberg | |
| go to original May 19, 2013 |
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A Mexican law to boost competition in telecommunications and media gained approval from a majority of state legislatures, surmounting its final hurdle for passage.
“It’s a historic day for Mexico,” Jose Ignacio Peralta, deputy communications minister, said in a message posted on Twitter announcing the milestone. President Enrique Pena Nieto has already pledged support for the bill, which passed both houses of Congress last month.
The proposal seeks to increase investment and reduce prices in the phone and pay-television industries and to create more choice in broadcast TV. It would create tougher conditions for America Movil SAB (AMXL), which has 70 percent of Mexico’s mobile-phone subscribers, and Grupo Televisa SAB (TLEVICPO), which gets 70 percent of the nation’s broadcast-television audience.
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